Offshore messenger - December 2019

December's offshore messenger covers the impact of recent tax changes for non-domiciled individuals as well as tax and governance on the new financial frontier of cryptocurrency.

Impact of recent tax changes for non-domiciled individuals

02 December 2019

Are major changes to the taxation of non UK domiciled individuals increasing government revenue or causing non-doms to leave the UK? What planning can long term non-doms consider to minimise the impact of these changes?

Cryptocurrency - tax and governance of the new financial frontier

02 December 2019

At its height in December 2017, bitcoin reached a value of over $19,000, only to trade for under $4,000 for much of early 2019. It is not an exaggeration to say that cryptocurrency fortunes were made and lost over this period, and cryptocurrencies are now a fact of investment life. Aside from obvious concerns about volatility and which option to back, ‘crypto’ creates administrative challenges for trustees and company directors. For example, consider two areas: tax treatment and money-laundering.